San Francisco was a finalist for Lester when the veteran left-hander was a free agent ahead of the 2015 MLB season.
The Chicago Cubs declined Lester's $25 million option for 2021, allowing him to hit the open market again.
Morosi posited the 36-year-old Georgia resident might have liked to join the Atlanta Braves. However, Atlanta announced Tuesday it signed Charlie Morton to a one-year, $15 million deal after having added Drew Smyly for one year and $11 million.
The Braves' rotation looks set, leaving little room for Lester.
The five-time All-Star struggled this past season, going 3-3 with a 5.14 FIP in 12 starts, per FanGraphs.
His 6.2 strikeouts per nine innings were a career low, and his fastball averaged 89.87 mph, according to Brooks Baseball. That was his second-most frequently used pitch (27.28 percent), and opposing hitters slugged .619 against it.
Lester wasn't a dominant strikeout pitcher in his prime, and his diminishing velocity is shrinking his margin for error on the mound.
Drawing any conclusions based solely on 2020 is unfair because of the circumstances surrounding the year. Perhaps Lester's performance would've leveled off a bit more in a traditional 162-game campaign.
His days as a starter you insert at the top of your rotation are over, though. He probably wouldn't be any higher than No. 4 or 5 in San Francisco's staff.